Wema Bank Plc has extended $200,000 in grants to 18 innovative startups that won the previous editions of Hackaholics, Nigeria’s premier hackathon in its sixth season organised by the bank.

The bank disclosed this at the announcement of a call for applications for the sixth edition (Hackaholics 6.0), saying the project is about social impact.


Chief Transformation Officer of Wema Bank, Babatunde Mumuni, said the bank remained committed to supporting the country’s economic growth, including innovative enterprises.

“From inception to date, we have had a total of 18 winners at Hackaholics. And we have given out about $200,000 in grants to all the winners. Over the years, we have continued to increase the prize money to empower the innovators to progress,” Mumuni said.

Hackaholics, designed to foster technological advancements and entrepreneurship, aligns with the bank’s commitment to empowering startups with funding, mentorship and market access, he said.

Ahead of this year’s edition, the bank said it would collaborate with governors in the Southwest states to boost local innovation and leverage technology to drive transformation in food systems.

This collaboration it plans is expected to strengthen agrotech and boost the performance of agriculture.

Executive Director of Retail and Digital Business, Tunde Mabawonku, noted that the bank remained dedicated to improving innovation, especially with respect to agriculture, while disclosing a plan for the collaboration.

He said Hackaholics 6.0 focuses on attracting bold and cutting-edge solutions in key sectors like AI, blockchain, renewable energy, customer experience and cybersecurity.

According to him, the initiative aligns with the bank’s strategic vision for its 80th anniversary in 2025.


https://guardian.ng/business-services/business/18-startups-benefit-from-wema-banks-200000-grants/